The United States Bankruptcy Court for the Southern District of New York (the “Court”) in Weisfelner v. Fund 1 (In Re Lyondell Chemical Co.), 2014 WL 118036 (Bankr. S.D.N.Y. Jan. 14, 2014) recently held that the safe harbor provision of 11 U.S.C. § 546(e) did not bar unsecured...

On January 14, 2014, Judge Robert E. Gerber of the United States Bankruptcy Court for the Southern District of New York in Weisfelner v. Fund 1. (In re Lyondell Chemical Co.), Adv. Proc. No. 10-4609 (REG), 2014 WL 118036 (Bankr. S.D.N.Y. Jan. 14, 2014) held that section 546(e) of the Bankruptcy...

The Ohio General Assembly recently responded to the accelerated rate of asbestos-driven bankruptcies by considering a new bill, H.B. 380, which requires plaintiffs in civil actions to disclose to defendants any pending claims against asbestos trusts. The bill recognizes that there are two paths to...

Rejection of a contract in bankruptcy may not always accomplish a debtor’s goal to shed ongoing contractual obligations and liabilities, especially when dealing with employee benefit plans. On October 13, 2011, the Fifth Circuit Court of Appeals highlighted this issue in its opinion in Evans...

Two recent decisions by the Bankruptcy Court in New York addressed the disposition of contribution claims against a company that has been designated a potentially responsible party ("PRP”) when the company files for bankruptcy. In these two cases, the Court found the contribution claims...

Earlier this week, in In re Leslie Controls, Inc., Case No. 10-12199 (CSS) (Bankr. D. Del. Sept. 21, 2010), the United States Bankruptcy Court for the District of Delaware issued an opinion confirming that the “common interest doctrine” protected from production in subsequent litigation...

In a recent hearing to consider the sale of the Boscov's department store chain, the United States Bankruptcy Court for the District of Delaware held that Boscov's private label credit card program agreement was not a "contract to make a loan or extend a financial accommodation" and...